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Business Entities Keyed to Chiappinelli
Mason v. Mason
Citation:
770 S.E.2d 405 (S.C. App 2015)Facts
The company operates five tire and auto service stores. In 1998, the company was formed and ownership of the individual stores was transferred to the company. At that time, father owned 520 shares, mother owned 160, son owned 160, daughter owned 90, and Ozzie owned 70. On August 18, 2007, son offered to purchase all but 5% of daughter’s 25% interest in the company for $625,000 or to sell 25% of his interest in the company. He testified they had numerous discussions about different options of shareholders being bought out because they were not getting along. Both father and daughter turned down son’s offers. On October 24, 2007, a shareholders meeting was held and father was elected president and son was elected vice president. Son filed a complaint against the Masons and the company, asserting causes of action for breach of contract, breach of fiduciary duty, civil conspiracy, relief and others.
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